Daily Forecast for Crosses

EURJPY Forecast
The EURJPY had a significant bullish momentum yesterday, slipped above the trendline resistance, but still unable to stay consistently above it. After bullish momentum triggered by the double bottom formation around 119.70 area, price is now facing a double top formation around 123.99 area. A failure to break above that area and break below [...]

Daily Forecast for Majors

EURUSD Forecast:
The EURUSD didn’t make significant movement yesterday. Overall price is still in consolidation range of 1.3450/35 – 1.3735/50. The bias remains neutral both in nearest and medium term but the long term outlook remains bearish. For me, there are two technical events that must take place in this situation to give us clearer direction, [...]

Afternoon Forex Overview

Previous session overview
The dollar rose versus the Japanese yen and British pound on Wednesday, but the euro managed to erase an earlier loss versus the greenback after stronger-than-expected manufacturing data from France and Italy.
The euro traded at USD1.3620, up from USD1.3598 in late North American trading Tuesday. The single currency had been under pressure in [...]

GBP/USD Support at 1.4873

The Pound extended losses below the 1.4900 level following negative UK economic data.
Manufacturing and industrial production were both below analysts estimates, printing at -0.9% and -0.3% compared to the +0.3% and +0.2% consensus, respectively.
GBP/USD dropped to 1.4873, the 78.6% Fib. retracement level (1.4785 to 1.5197), and is finding slight demand in this area.
Bias remains to [...]

EUR/USD Holds Above the 1.3540

The pair continues to trade within a consolidation range as developments in the EuroZone remain rather unchanged.
Concerns over Greece have eased slightly helping the Euro hold some ground. Focus will now be on the proposed IMF-style institution or the implementation of euro bonds, as well as upcoming economic data from the US and the EuroZone.
The [...]

NZD/USD Limit Sell at 0.7130

The New Zealand Dollar extended gains above the $0.7050 level as risk appetite returned to the markets.
No major data is due in the NY session morning where traders will take queue from stock markets. The pair could extend gains on a positive Wall Street and ahead of the Reserve Bank of New Zealand’s (RBNZ) interest [...]

(Update) AUD/USD Near Key 0.9172 Resistance

*Update: Order entered at 0.9170. Bias looks quite bullish move stops to break even.
The Aussie rose sharply in the NY session breaking strong resistance levels and clearing stops above the 0.9130 area.
The pair began the morning at 0.9060 and closed higher by 80 pips at 0.9140. Currencies took queue from stock markets which spurred risk [...]

EUR/USD Falls Under 1.3600

The Euro has reversed most of Friday’s and Sunday’s gains as concerns continue to linger on deficits. Fitch today warned that Spain and France need to take stronger measures and that a sovereign default is possible in EMU, although it predicts that it would not cause a split.
Investors are also wary of the next few [...]

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